Renewable Energy Asia (REA), formerly known as Superior Fastening Technology, has inked a strategic co-operative agreement with China Datang Corporation, one of the PRC’s largest state-owned power producer by installed capacity. Under the terms of the agreement, REA Group and Datang will form JV companies to engage in EPC of wind farms; wind turbine component manufacturing; and wind farm development and electricity generation.
REA Group will hold a 51% and 49% equity stake in companies formed to provide EPC / wind turbine component manufacturing services and wind farm development respectively. In the near term, the group expects to derive its operating income from EPC projects, while long-term recurring income should come from its wind farm development and electricity generation business.
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